1. Paytm to cut losses by 33% to $400 million: Vijay Shekhar Sharma Paytm has completely cut incentives on P2P UPI transactions after seeing a group of customers conduct millions of transactions of Rs 21 between its network and other rival players. The firm expects GMV, which does not…
1. Oyo founder Ritesh Agarwal investing $700 m in $1.5-B fresh round Investment to be routed via RA Hospitality and financed by the $2-2.2b debt Oyo CEO had raised. “With the CCI approval now in place, the company will get a capital infusion of $1.5 billion for this mission,…
1. Paytm First Games raises $20 million for expansion This fund-raise will support the company’s ambition to scale its operations, invest in technology and further expand its user-base through various marketing activities. Paytm First Games has achieved more than 10 million monthly transactions with an annual revenue run rate…
1. Startups can find solutions to problems faced by India: Paytm senior executive “Entrepreneurs in India can identify any problem that they wish to work on and support the government,” Saurabh Jain, Build for India Head, Paytm said. About his company, the official said even though Paytm has been…
1. Paytm invests Rs 250 crore to boost its travel business The company claimed that it sells more than six million travel tickets every month and is targeting to grow by 100 percent in the current financial year. The company has chosen Bengaluru as the base of operations for…
1. Former Discovery India head’s EdTech startup raises $10 million in Series A round Nexus Venture Partners, Omidyar Network India, and Owl Ventures have funded Karan Bajaj-founded WhiteHat Jr. White Hat Jr has developed their own original coding curriculum, which is centered on product creation, and imparts their lessons…
1. Amazon opens its homepage to display ads WATCH OUT: Firm is in a race with Google and Facebook for ad spends this festive season. Amazon has run campaigns with brands such as Citibank and Maruti Suzuki and is looking to acquire more large clients in the run-up to…
1. SoftBank pushes WeWork to postpone its contentious IPO SoftBank has invested a total of about $10.65 billion into the New York-based company, but that has been at a range of valuations. WeWork has lined up a $6 billion credit line that is contingent on it raising at least $3…
1. Singapore has become a fulcrum for India’s economic policies: S Jaishankar Around 20 percent of India’s investments came from Singapore and more than 9000 Indian companies were registered here, he noted. In 1992, India launched the India-Asian partnership and by 2005 “we” were members of the East Asia…
1. India’s domestic market for computer services to grow faster than exports: UN report The first-ever Digital Economy Report said the size of the global digital economy range from 4.5 to 15.5 percent of world GDP. India ranked fourth in terms of growth in the share of the ICT sector’s…